But it has launched. To wide derision. We have finally got a copy in the office and are scanning some more pictures for your delectation.

11.30am update: So, what is the content like? The intro to the splash:

"Former London Wasps, England, and Lions rugby legend Lawrence Dallaglio, this week met with Prime Minister Gordon Brown at No 10 to launch London Wasps annual St George's Day Game."

Journalism students would be ridiculed for that sort of intro. It is without doubt the worst front page lead I have ever seen in any newspaper of any format/shape/size/distribution.

The London Weekly

Page two asks: "Do you have any celebrity gossip? E-mail showbiz@thelondonweekly.co.uk" above stories such as "Bruce Willis won't say No to kids" and "Jude Law maturing into happiness".

Page three may actually include some fresh, "exclusive" content: "The London Weekly talks to Former England cricket professional, jungle king and dancing star Phil Tufnell who is set to make 2010 a year to remember with his New Year resolution to quit smoking." So, Phil, drop us a line and let us know how your interview with London's newest paper went.

1.15pm update: AliDonnelly has asked whether we aren't being a little harsh. She says: "It's not as if it was promoted as being quality."But is it too much to ask for correct name spelling on the front page of the launch edition of a publication?

Here are some other first edition howlers from the London Weekly (these are just in headlines/standfirsts): "Cowell is king of immitation", and standfirsts featuring: "As The Simpsons enters it's 20th season" and "Serve them with New BAILEYS Extra Thick Crea".

2pm update: After the excitement of the search for a copy, followed by the scorn of the readers, we now move onto the inquest. And there appear to be two main questions, which are interlinked. What do we know about the Invincible Group who are behind it? And why have they produced something so terrible? In the comments below and the debate on Twitter there is clearly a feeling that this might be some kind of PR stunt. It has certainly garnered much publicity. And Invincible seems to be involved in marketing and promotion as much as it is involved in content media.

3.40pm update:Brand Republic's story on "the light hearted paper for light hearted Londoners" quotes Neil Jones, commercial director of News International, who hasn't seen a copy but noted: "If News International and Associated were unable to crack the tricky free London market then I'm not sure if anyone can. But I wish the team over at London Weekly every success."

4.30pm update: Flicking through edition one (will there be a second edition?), the London Weekly is carrying some advertisements that look like they have been paid for: Sea France, Southern Comfort and Ticketmaster. If they have all paid for those adverts, on a rate related to a claimed distribution of up to 250,000; and if distribution is cheap (a few former London Paper distributors, perhaps); and printing costs are low (it could have been printed at any point over the week using print site downtime); and editorial costs are very low (it looks like there were no sub-editors), then could this publication be profitable?Who are those 250,000 readers? People who would prefer to read anything on the tube rather than look at the person opposite them, perhaps. There are also hundreds of thousands of people in London for whom English is not a first language who are unlikely to worry about bad grammar and spelling.To return to those advertisers, Ticketmaster has two adverts: one on the front page and one on page 31. But the advert on page 31 is in fact linked to (and turned to) from the splash story about the London Wasps v Bath St George's Day rugby match at Twickenham.

5.30pm update: This may well be my final posting of the day, as I am due to be talking about London Weekly on BBC London early evening news very shortly.So just time to thank you all for joining the debate. See you here for edition two next week?And to thank fishyphil and poshtim for pointing out that Phil Tufnel (sic) has a blog about giving up smoking - on the Boots website.